Peterson purchased land having a current market value of $110,000, a building with a market value of
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Peterson purchased land having a current market value of $110,000, a building with a market value of $88,000, and equipment with a market value of $22,000. Journalize the lump-sum purchase of the three assets purchased for a total cost of $210,000 in exchange for a note payable?
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Journal DATE ACCOUNTS POST REF Dr Cr Land 105000 Building 84000 Equipment 21000 Not...View the full answer
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